Acumen Pharmaceuticals’ (ABOS) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note released on Wednesday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Monday, July 6th. Wall Street Zen downgraded Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Citigroup boosted their price target on Acumen Pharmaceuticals from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ ABOS opened at $2.65 on Wednesday. The stock has a market cap of $191.65 million, a PE ratio of -1.63 and a beta of 0.37. Acumen Pharmaceuticals has a 1 year low of $1.22 and a 1 year high of $3.60. The firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $2.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.47 and a quick ratio of 2.47.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). Equities analysts anticipate that Acumen Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. bought a new position in shares of Acumen Pharmaceuticals during the 1st quarter valued at about $27,000. Two Sigma Securities LLC purchased a new position in shares of Acumen Pharmaceuticals during the second quarter valued at about $32,000. Spark Investment Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the second quarter worth about $39,000. Independent Advisor Alliance bought a new stake in shares of Acumen Pharmaceuticals in the fourth quarter worth about $40,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Acumen Pharmaceuticals by 27.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock worth $67,000 after purchasing an additional 6,146 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc (NASDAQ: ABOS) is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease. The company’s research is centered on amyloid-beta oligomers, toxic protein assemblies that Acumen believes play a key role in the development and progression of neurodegenerative disease.

Acumen’s lead product candidate is sabirnetug, formerly known as ACU193, an investigational monoclonal antibody designed to selectively target amyloid-beta oligomers while avoiding much of the amyloid plaque targeted by some other Alzheimer’s therapies.